Anybody taking advantage of Coronavirus?
- Thread starter ThreatMatrix
- Start date
- Jul 29, 2014
- 22,177
- 23,439
Good work. I started managing a portion of my retirement last summer and it's currently divided into 1/3's. One third is managed professionally(IRA and PSP) another third sits in a longer term add on CD at 3.30% and the last third I manage myself on almost a daily basis(ETF's and one MF. Since my managed funds are in about a 70/30 split and another third is in a passive CD I changed my philosophy on my personally managed 1/3 and got very involved in late Feb and started flipping back and forth between long term(STRIPS) and back over to growth/tech on a daily basis......Let er rip taterchip was my aim and although I suffered around 20% overall loss I've made back everything including most of my gains from August 2019 to Feb 2020.....
On the other hand my managed funds suffered over-30% but have gained back a little over half last time I checked. I'm just not sure they are getting the time and attention they deserve and I'm starting to wonder if I could do better myself.
Thank goodness property values have held up and with my add on CD coming due soon I'm giving some thought to paying off one of my residential rentals and just using the monthly rent minus enough for taxes and insurance to feed my retirement MF. That would give me almost double what my annual IRA contribution equals and the ability to cash out of the house(sell) or save the 3.75% mortgage that is on the house.....decisions, decisions....
Last edited:
- Nov 19, 2014
- 9,258
- 14,992
@Concrete Helmet if I may, when you say managed professionally, it is done by a Registered Investment Adviser who has got you in individual names or is it some mutual fund company or some RR who has you in some funds? If so, then those are getting the attention that the machine can give it. If you are in funds, then with all due respect that is not professional management. You can do that yourself for free.
- Jul 29, 2014
- 22,177
- 23,439
Yeah he's one of those "certified insurance and annuity guys"
that stops by once a year to pick up the PSP and IRA contributions and spends the next hour annoying the sh!t out of me and my wife trying to pedal annuities and life insurance. I can't really blame him though since the only direction my wife gives him is "don't lose any money" and she puts all of her money back into the business, RE, and some mason jars that I have yet to find in the back yard...He probably wouldn't get a chubby over actively trading my mere pittance of a portfolio anyway and that's fine with me but in the meantime I don't consider myself seasoned enough to take control of 10 other peoples retirement funds even if I could legally do so...no thanks I'll just keep plugging away at my own little stash.
Last edited:
- Nov 19, 2014
- 9,258
- 14,992
Yeah he's one of those "certified insurance and annuity guys"
He probably wouldn't get a chubby over actively trading my mere pittance of a portfolio anyway and that's fine with me but in the meantime I don't consider myself seasoned enough to take control of 10 other peoples retirement funds even if I could legally do so...no thanks I'll just keep plugging away at my own little stash.
@Concrete Helmet thanks for the info so I just want to clarify something with you. I am not advising you to do anything or telling you what to do, I am giving you facts. "Your certified insurance and annuity guy" is NOT and can NOT manage your money. He can't make any recommendations, etc. He is NOT a FIDUCIARY. He only can give you the choices of funds that his company can market b/c they are getting a kick back from those companies. All of the investments thru him are made by YOU. He may something silly like be diversified etc., but I repeat YOU are the final decision maker. And yes he is getting CHUBBY off you and thousands others. It does not make any difference whether your accounts go up down or sideways. He and his company are getting their share regardless. He is called an Investment Advisor Representative. Rep is another word for salesman. Not demeaning what they do b/c the Gov. allows them to practice this way, but they are commissioned based salespeople. Sell annuities and insurance policies, they get one time big commissions. Their goal with 401K's, et al. is to sign up as many people as possible to gather as many assets as possible. They get paid a % of that, not based on any performance. So as long as you keep anything thru him he gets paid. Performance is irrelevant. They may get more if the value goes up but they get a % and do absolutely nothing. those are managed by machines of the company funds. So I repeat he is getting paid monthly from you and everyone else and can not make any recommendations. Why do you think he can only shill funds and Insurance products? B/ C he is in sales and not money management. But whatever you do I hope you are doing well.
Last edited:
- Jul 15, 2014
- 28,511
- 47,386
Oil up, 10 yr way up, oil up, Fed speaks this week... Should be a big week.
- Nov 19, 2014
- 9,258
- 14,992
So just on Friday I piped in saying CHK was up 70% or so. Well this morning is up almost 100% from 24 to 44. Since Friday morning this stock has gone from 13 to now 44 and is basically bankrupt. Incredible that stocks like this and Hertz where money can be more than triples in just days and they are literaly in bankruptcy court.
Dow Jones showing big up move this morning but BA is responsible for more than half of that move. Most of the dash for trash stocks up big this morning. As @Detroitgator mentioned, lot going on this week so be careful. But I doubt the Fed will say much especially to derail this move.
The next big thing to me on the radar is how to help the states, cities and municipals which are basically all broke.
Dow Jones showing big up move this morning but BA is responsible for more than half of that move. Most of the dash for trash stocks up big this morning. As @Detroitgator mentioned, lot going on this week so be careful. But I doubt the Fed will say much especially to derail this move.
The next big thing to me on the radar is how to help the states, cities and municipals which are basically all broke.
- Jun 12, 2014
- 9,592
- 25,441
Founding Member
Are there any fire extinguisher companies?
- Nov 19, 2014
- 9,258
- 14,992
So after more than TRIPLING during the session today from 24 to 77, CHK is down 25 bux after hours on a Bloomberg report that the company is finally planning on filing for bankruptcy. So to all the momentum players out there, there is only one word Body-Bag. They f'ed the shorts by running the stock from 13 to 75 and now they are f'ing the longs. And @sharkbite wants to trade Forex. Just dabble in these dash for trash names. They will whipsaw you plenty.
- Aug 31, 2017
- 96
- 166
- Nov 19, 2014
- 9,258
- 14,992
Just as stocks have gotten way ahead of the economic numbers, the 10 year kind of hit a wall at just above 90 basis points. I think the Fed is okay with the move in the 10 yr, but would like for it to go not much higher.
With all the talk of yield curve control, instead of announcing that they will increase their purchase of longer term treasuries, I think they will continue to stress that short rates will remain tethered to zero and hope that the market participants will in turn not allow longer rates to go too high. Any rise in short rates carries higher costs to everyday consumers in increased car loan rates, credit card rates, etc. Higher long rates do not effect people on an everyday basis as much as short rates.
- Jul 15, 2014
- 28,511
- 47,386
I'm still hoping for more of a pull back this week to buy in more, but not sure we'll get it.
- Nov 19, 2014
- 9,258
- 14,992
There is plenty of stuff pulling back but the problem is that it is all those dash for shyt stocks that ran up tremendously. But within those sometimes you can cherry pick a name or two that kind of get lumped in. Of course it is back to the 5-10 tech names and everything else. I also have a short list of a bank or two if they come in more. I also want to buy more VIAC. That was 12-13 ish not long ago and at that level the dividend is juicy. So like you, I am scouring for a few I like that might go lower with the trash.
- Nov 19, 2014
- 9,258
- 14,992
Not saying today is the day, but it is the time to get your orders ready and strategically placed b/c some of them may get hit. Personally I am going to exercise a bit more patience this time around but I am not saying we go back to the March lows.
Not a great jobless claims number, a big spike in food prices and a talk of a 2nd wave of the Kung Flu (not sure how you get a 2nd wave when Wave 1 has not gone yet, but whatever). Be that as it may, sometimes you can put some crazy low bids in and you never know.
Not a great jobless claims number, a big spike in food prices and a talk of a 2nd wave of the Kung Flu (not sure how you get a 2nd wave when Wave 1 has not gone yet, but whatever). Be that as it may, sometimes you can put some crazy low bids in and you never know.
- Jul 15, 2014
- 28,511
- 47,386
Well, looks like we're getting the pull back I wanted. Problem is, we're in a "wait and see" spot given that we closed below support... now we have to see if we regain it, or drop another 5%.
- Nov 19, 2014
- 9,258
- 14,992
So clearly Mr. Market reads our board as 3 posts above I, in passing, mentioned if the market tanks I would like to buy more VIAC. Well today we have a huge selloff and VIAC closes down 41 F*&*&king CENTS, 41 pennies and closed about the high of the day. Why do they torture me? The damn stock was just 14 ish and can only go down 41 cents. Yes I know it means it was relatively strong today but I want to pay wholesale not retail!!!!
- Nov 19, 2014
- 9,258
- 14,992
Sorry, but I am hoping for the latter!
